A Year in Review: Media Highlights of 2018

GCube regularly shares its insights and expertise with the media, in keeping with our belief in transparency and knowledge-sharing. Reflecting wider trends in the industry this year, key themes under discussion included the sector’s ongoing response to Nat Cat events, resource risk management and the relationships between insurance and innovation, and between trade and public buy-in. GCube also led industry discussions with its new cyber security policy. Below is a selection of our 2018 highlights.

January

Bloomberg New Energy Finance

Jatin Sharma, GCube President, is interviewed for Bloomberg NEF in early January about natural catastrophe risk. In this piece, Jatin explains how natural catastrophe risk is catching insurers off guard and that developers must factor an increased cost of insurance into their business cases for projects in high-risk areas.

February

Windpower Engineering 

GCube President Jatin Sharma outlines the typical hazards for onshore wind projects to Windpower Engineering in February. In this piece, Jatin outlines how investors can protect their wind portfolios whilst expanding into new territories.

March

The Telegraph

GCube CEO, Fraser McLachlan, contributes his perspectives on market instability, weather-related losses, and new technologies to a Telegraph article about the need for insurers to price accurately for risk when they seek to win business.

May

A Word About Wind

Examining the role of free trade in offshore wind in a blog post for A Word About Wind ahead of his presentation at Financing Wind New York, GCube President Jatin Sharma discusses the importance of local content in the emerging US market.

South China Morning Post

Explaining the risks and challenges foreign investors are concerned about when considering developing offshore wind in Taiwan, GCube President Jatin Sharma speaks to the South China Morning Post.

June

Recharge News

Jatin Sharma, GCube President, asks the global offshore wind sector to stop thinking of insurance as a barrier to innovation in an opinion piece for Recharge. Recognizing that insurance and innovation are not fundamental opposites, Jatin claims, will mean that insurance can support innovation and future successes in the industry.

July

Offshore Wind Journal

Speaking to Offshore Wind Journal, Jatin Sharma, GCube President, argues that there is more to the story of subsidy-free offshore wind than maximizing efficiencies. In fact, it may reflect the redirection of costs to the industry in the form of increased risk.

August

Greentech Media

Robert Bates, offshore wind underwriter at GCube, comments on the intention of Japan’s Tepco to invest in offshore wind and hydro. Robert warns that transitioning from nuclear to offshore wind operations might not be straightforward, considering the vastly different risk landscapes of the industries.

September

PV Magazine

This month, multiple outlets including PV Magazine report on the launch of GCube’s Cyber Risk policy at the GCube Advisory Council meeting in Austin, Texas. The policy is described as a first of its kind product leading the way in addressing the growing threat of cyber-attacks on utility and energy firms.

October

New Energy Update

Cyber security is discussed again in October, with GCube providing an expert opinion on insurance coverage for non-damage cyber-attacks.

 

November

Insurance Day

Advances in AI, the rise of digitalization, and new data-based solutions don’t come without risk, Geoffrey Taunton-Collins, senior risk analyst at GCube, argues in an opinion piece for Insurance Day. Cyber risk must be taken seriously by insurers in all industry sectors, Geoffrey writes, but the renewables industry needs catch up and to invest in insurance that covers more than just lost data.  

December

Wind Power Monthly

In light of a Summer of low winds across Europe, Geoff Taunton-Collins, GCube weather risk analyst, explains how Weather Risk Transfer can help mitigate low wind resource and poor asset performance should a business not have a portfolio geographically diverse enough to counteract it.